Diversification into Bitcoin a ‘prudent move,’ says Bloomberg strategist

The statement appeared as Bitcoin investors waited for fresh economic projections from the Federal Reserve and China pledged to release metal reserves amid concerns over commodity rally. Bitcoin (BTC) price has retreated by more than 40% after topping out near $65,000 in mid-April.

Stock-to-Flow Creator Says ‘$288K Still in Play,’ Mike McGlone Sees an ‘Ace up Bitcoin’s Sleeve’

The popular Twitter account and creator of the bitcoin stock-to-flow (S2F) price model explained that “$288K [is] still in play.” Meanwhile, data from the exchange Deribit shows there’s 425 bitcoin call options with a strike price of $200K set for December 31, 2021.

Commodity Strategist Mike McGlone Says $40K BTC Target ‘More Likely’ Than $20K

Bloomberg Intelligence senior commodity strategist Mike McGlone believes bitcoin is “more likely” headed for $40K instead of $20K after discussing the possibility of capitulation in a recent tweet.

Price analysis 6/9: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, SOL, BCH

Bitcoin’s sharp rebound from its recent swing low suggests traders are aggressively accumulating BTC and altcoins on major dips. Bloomberg Intelligence senior commodity strategist Mike McGlone believes that Bitcoin (BTC) is more likely to rally to $40,000 than slump to $20,000.

Bitcoin price gains 6% as Bloomberg analyst favors $40K over $20K next

The odds are on for a continuation to $40,000, Mike McGlone argues, but not everyone is so sure. Bitcoin (BTC) is "more likely" to hit $40,000 than $20,000, Bloomberg argues as the largest cryptocurrency gains 6% in a day.BTC/USD 1-hour candle chart (Bitstamp).

Price analysis 6/4: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, ICP, BCH

Continued selling at overhead resistance levels suggests that Bitcoin and altcoins could remain range-bound in the short term. Bloomberg senior commodity strategist Mike McGlone believes Bitcoin (BTC) is more likely to turn up and rally to $100,000 rather than correct to $20,000.

‘Discounted’ Bitcoin more likely to hit $100K than $20K in 2021, says Bloomberg analyst

“Bitcoin $20,000 or $100,000 in 2021? Crypto Trend Is Upward,” wrote Bloomberg senior commodity strategist Mike McGlone.

‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’

Precious metals (PM) markets have been trading a bit higher in recent days, while cryptocurrency markets have been seeing gains as well.

Bitcoin Has The Right Catalysts to Push its Price to $100,000 - Bloomberg

Mike McGlone lists institutional backing, ETFs as part of the catalysts that will push BTC to $100,000 (Read More)

Coinbase IPO May Push BTC Price to $70,000, Just like Tesla Pushed BTC to $60,000

Bloomberg strategist Mike McGlone says Coinbase IPO can stir a Bitcoin bull run to $70,000, similar to how Tesla prompted BTC to reach $60,000.

Price analysis 4/12: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, XLM

Altcoins continue to press higher while Bitcoin bulls work on holding the $60,000 level as support. Bloomberg Intelligence senior commodity strategist Mike McGlone equated the current consolidation in Bitcoin (BTC) price to that of a “caged bull, well-rested to escape.” When compared with the rallies a year after the previous two Bitcoin halvings in 2012 and 2016, the strategist called the current price action “tame.’ According to McGlone, Bitcoin is “still in price-discovery mode” and its plateau is still far away. While Bitcoin remains in focus, altcoins have continued to steal the show.

Bitcoin is 'caged bull' ready to escape at $60K — Bloomberg Intelligence

Bitcoin is stuck in a "tame" post-halving scenario and has far to run before reaching its cycle peak, says the popular research outlet. Bitcoin (BTC) is a "caged bull" and the end of its current price run is nowhere near at $60,000, says Bloomberg Intelligence. In a tweet on April 12, senior commodity strategist Mike McGlone delivered his latest bullish verdict on the state of Bitcoin this month.  Analyst: 2021 bull market is "tame" According to McGlone, who eyed a declining BTC supply coupled with roaring demand from new investors, Bitcoin has far to go before it reaches a cycle top, or "plateau." "Still in Price-Discovery Mode, Bitcoin Plateau Appears Distant — Bitcoin supply is declining and demand is rising, leading us to expect continued price appreciation and the establishment of a higher plateau as the crypto matures," he commented. BTC/USD with Bollinger Bands and 30-day moving average chart.

Why Bitcoin could favor USD dominance over Digital Yuan

Contrary to what many in the crypto space are discussing, Senior Commodity Strategist for Bloomberg, Mike McGlone, has made the case for Bitcoin being beneficial for the US dollar over China’s digital Yuan.

Celer (CELR), Cartesi (CTSI) and Compound (COMP) rally as DeFi heats up

Aiming to reduce the cost of transacting within DeFi is attracting developers and investors to Celer Network, Cartesi and Compound. Bitcoin bulls are still struggling to push the price to a new high but the positive sign is that BTC has not corrected sharply in the past few days and the top-ranked cryptocurrency has held a market capitalization above $1 trillion since March 26.  While many are wondering what Bitcoin’s next move will be, a Bloomberg Intelligence report by senior commodity strategist Mike McGlone projects that BTC will rally to $80,000 in the second quarter rather than slump to the $40,000 level. Crypto market data daily view.

Bloomberg Analyst Calls for Outrageous Bitcoin Rally This Year – Here’s How High BTC Could Go

Bloomberg Intelligence commodity strategist Mike McGlone says Bitcoin is set for a parabolic ascent that could exceed even the most bullish price targets this year.

Bitcoin Could Reach $400K by 2021, Turning Into a Global Reserve Asset: Bloomberg

Mike McGlone stated that Bitcoin is on its way to becoming a risk-off global reserve asset.

Bitcoin can reach $400K in 2021 as 'risk-off reserve asset' — Bloomberg

With institutions demanding protection from inflation and dollar depreciation, historical trends could see BTC/USD 8X from current prices, says Bloomberg Intelligence. Bitcoin (BTC) still gets criticized for being too volatile, but one Bloomberg analyst believes that it conversely is becoming a "risk-off" choice for investors. In a tweet on March 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that this year marked a watershed moment for the largest cryptocurrency. $400,000 BTC would "rhyme" with history McGlone uploaded a chart of the BTC/USD average price and the Bitcoin Liquid Index, a price ticker specially created for institutional use. "..Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view," he wrote. A potential price peak this year, with previous behavior as context, could be as much as $400,000 per coin, the chart shows.

What key milestones will Bitcoin face after hitting $80,000?

Senior Commodity Strategist at Bloomberg, Mike McGlone has been painting a bullish narrative for Bitcoin lately.

This strategist's data suggests an accelerating pace of Bitcoin replacing Gold

Commodity Strategist Mike McGlone shared on Twitter recently that his data points to an accelerating pace of Bitcoin replacing Gold “as a store of value in investor portfolios.” While the precious The post This strategist's data suggests an accelerating pace of Bitcoin replacing Gold appeared first on AMBCrypto.

Record GBTC discount may spark $100K Bitcoin price rise — analyst

History repeating itself have the potential to spark a 2-4X BTC price run, data covering the GBTC premium suggests. Bitcoin (BTC) could be in for a $100,000 bull run next if a classic signal from institutions repeats its historical trend. In a tweet on March 4, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that those seeking clues about what lies next for Bitcoin should look at the Grayscale Bitcoin Trust (GBTC). Negative premium "could signal march to $100,000" As Bitcoin fell to $43,000 and continued to linger below all-time highs thereafter, the so-called “premium” on GBTC flipped negative. This means that GBTC shares are trading below their so-called net asset price (NAV) — institutional buyers are able to buy at a discount.

Bitcoin Breakout Signal Shows Top Crypto Likely Heading to $100,000 As Investors Choose BTC Over Gold: Bloomberg Analyst

Mike McGlone, a senior commodity strategist for Bloomberg Intelligence, says Bitcoin (BTC) appears to be heading to $100,000 as it edges closer to replacing gold as a reserve asset.

Crypto Markets Regain Billions, Bitcoin Price Bounces Back 15%, Analyst Says ‘Resurgent Mood In the Air’

The price of bitcoin and a number of digital assets saw significant gains on Monday, as the entire market capitalization of the crypto economy has gained 2.4% in the last 24 hours.

'Markets want Bitcoin and digital dollar as reserve currency'

In his latest market insight, Senior Commodity Strategist at Bloomberg Intelligence, Mike McGlone said that financial markets may now want to replace US Dollar reserves with Digital Dollars and Bitcoi The post 'Markets want Bitcoin and digital dollar as reserve currency' appeared first on AMBCrypto.

Bitcoin’s Rapid Increase Should Compel Crypto Investors to Own Gold, Says Top Miner

Sandeep Biswas, chief executive officer of Newcrest Mining, one of the world’s biggest gold miners, has said that the sharp increase in bitcoin prices should compel crypto investors to hold gold as a safe-haven asset.

Bitcoin Climbs Past $40k, Analyst Expects Another Jump in BTC Value, ETH Taps New Highs

The price of bitcoin is nearing the crypto asset’s all-time price high on Saturday, as the digital currency has gained over 6% during the last 24 hours.

Bitcoin’s Price Is Initially Targeting $50,000: Bloomberg Analyst

Bloomberg’s Mike McGlone argued that $50,000 is a tangible target for the price of Bitcoin, in his latest crypto outlook report.

Bloomberg's Mike McGlone says BTC could be headed to $50K as gold loses appeal

The Bitcoin-to-gold price ratio could shoot to 100x with the digital asset’s volatility possibly dropping to gold levels by 2024. Bitcoin will continue its bullish push towards $50,000 as investors move funds out of gold and into the digital asset, according to Bloomberg senior commodity strategist Mike McGlone.  By 2024, he believes its volatility could even reach gold levels, driving the price much further. In a report published on Wednesday, McGlone explained that BTC is showing strong support at $30,000, and “increasing institutional adoption and the potential for the benchmark to become a global reserve asset” could drive the price to $50,000 or higher. The report cited evidence of funds moving to Bitcoin from gold, highlighting accelerating flows into Grayscale Bitcoin Trust (GBTC) and decline in total known ETF holdings of gold.

Top Bloomberg Analyst Says Bitcoin Should Be Essential Part of Every Gold Investor’s Portfolio

Bloomberg Intelligence’s senior commodity strategist Mike McGlone says investing in gold without holding Bitcoin could leave investors exposed to market risks.

Bitcoin a Potentially Revolutionary Asset Set To Match Gold’s Risk Measures, Says Senior Bloomberg Analyst

Bloomberg Intelligence senior commodity strategist Mike McGlone says Bitcoin is a potentially revolutionary asset bound to match the risk measures of gold as BTC’s volatility continues to decline.

After $40K, this strategist is sure Bitcoin’s $50K milestone is within reach

Senior commodity strategist for Bloomberg Intelligence, Mike McGlone stated today that Bitcoin’s price has the potential to reach $50,000 and that prospects of the digital asset to revisit old highs The post After $40K, this strategist is sure Bitcoin’s $50K milestone is within reach appeared first on AMBCrypto.

Zero to $318,000: Proponents and Detractors Give a Variety of Bitcoin Price Predictions for 2021

While bitcoin has jumped well above the $26,000 zone, a number of crypto proponents are extremely bullish for the crypto asset’s performance in 2021.

How the 2020 Bitcoin Bull Run is Different From 2017, High Confidence Seen in BTC at Current Price

Mike McGlone noted that there are more reluctant BTC sellers this time, compared to the massive Bitcoin rally seen in 2017.

Bloomberg Strategist: Bitcoin May Surpass Gold in Today's Digital World

The advancement in the digital ecosystem as we have it today may give Bitcoin (BTC) an advantage for it to surpass Gold in the coming years- Bloomberg's Mike McGlone (Read More)

Bloomberg Analyst Predicts Bitcoin Shooting to $1,000,000,000,000 Market Cap – Here’s Why BTC Is ‘Far From Overheated’

Bloomberg Intelligence senior commodity strategist Mike McGlone says he expects Bitcoin’s big rally to continue in 2021.

Top Bloomberg Strategist Says Bitcoin Could Peak at $180,000 – Here’s When

Bloomberg’s senior commodity strategist Mike McGlone says Bitcoin may be on a path to six figures and beyond.

Previous Bitcoin Bull Run Patterns Suggest Current Run Could See a $160K Top, Possible $25K Bottom

While digital currency markets have increased significantly in value a number of crypto asset proponents are wondering how far the next bull run will take them.

Bloomberg’s Senior Strategist says Bitcoin Could Consolidate Like Gold Before Rallying Higher

Mike McGlone, a senior strategist at Bloomberg said that Bitcoin’s price could potentially soon add another zero to the back of its number.

Bloomberg Analyst Says Bitcoin Targeting $1,000,000,000,000 Market Cap

Mike McGlone, Bloomberg Intelligence’s senior commodity strategist, thinks Bitcoin is on its way to a $1 trillion market capitalization.

$1T market cap is ‘next big resistance’ for Bitcoin — Bloomberg analyst

Bitcoin price has a clear run to an order of magnitude in gains, Mike McGlone argues as $16,000 is quickly reclaimed. Bitcoin (BTC) hitting its all-time highs of $20,000 again is not the end, but the start of its explosion to a $1 trillion asset, a senior Bloomberg analyst says.

Bloomberg Goes Bullish on Bitcoin on Latest Nasdaq Decoupling

Bitcoin is on track of further price appreciation as it decouples from a classic positive correlation with tech stocks, according to Mike McGlone of Bloomberg Intelligence.

Bitcoin Price on Pace to Reach $20,000, Bloomberg Senior Strategist

The Senior Commodity Strategist for Bloomberg Intelligence, Mike McGlone says Bitcoin (BTC) may well be on pace to reach US$20,000 by 2021.

Bloomberg Strategist Says Bitcoin’s Price is Heading to $20,000

Mike McGlone, Bloomberg commodity strategist, suggests Bitcoin will break $20,000 in 2021.

Bitcoin to See a Parabolic 2021 as Analyst Hints at Historical Trend that Could Take BTC to a New All-Time High

Bloomberg’s senior commodity strategist Mike McGlone said that Bitcoin will see a parabolic 2021, following the same pattern in its history in 2013 and 2017.

After Pushing Ahead of XRP, Bloomberg Predicts This Crypto Asset Will Surpass Ethereum in 2021

Bloomberg Intelligence commodity strategist Mike McGlone says a relative crypto newcomer could surpass Ethereum as the second-largest crypto asset by market capitalization in 2021.

Bitcoin To Hit $100,000 in Five Years as Demand and Adoption Increase – Report

Bloomberg analyst Mike McGlone has predicted that the price of bitcoin will hit $100,000 by 2025.

Top Commodity Strategist Says Bitcoin Aiming for $100K Amid Rising Demand – But It Won’t Happen Anytime Soon

Bloomberg Intelligence commodity strategist Mike McGlone says Bitcoin (BTC) could be en route to $100,00, but investors of the number one cryptocurrency will have to wait.

Bitcoin Price to Hit $100,000 in 2025: Bloomberg Market Analyst

Bloomberg Intelligence senior commodity strategist Mike McGlone has predicted Bitcoin price to top $100,000 in 2025.

Bitcoin Is Undervalued, Fair Value Price Should Be $15,000, Says Analyst

Bloomberg cryptocurrency analyst Mike McGlone says bitcoin is greatly undervalued, suggesting that its fair value price should currently be somewhere around $15,000.

Bloomberg Intelligence Analyst Calls Bitcoin a Standout Asset

Analyst Mike McGlone suggested Bitcoin will benefit from an upside in equity and bond prices.

Bitcoin will continue appreciating, although at a slower pace than in the past, Bloomberg analyst explains

According to senior commodity strategist at Bloomberrg Mike McGlone, Bitcoin’s limited supply and increasing adoption will lead to steady, although gradual, appreciation. Mike McGlone, Senior Commodity Strategist at Bloomberg, is convinced Bitcoin will continue to appreciate thanks to its fixed supply coupled with increasing demand.  “I don't see what [could] make it stop doing what [it’s] been doing for the last 10 years.

Bloomberg: Bitcoin could hit $500k or drop to zero

Limited supply and increasing demand are pushing Bitcoin into becoming digital gold. In September’s crypto outlook newsletter, Bloomberg’s analyst Mike McGlone observed that the price of Bitcoin (BTC) could either be heading to the $500,000 mark, or it could fail.

Price Analysis 8/19: BTC, ETH, XRP, LINK, BCH, LTC, BSV, ADA, BNB, EOS

Bitcoin and the altcoins continue to correct but lower levels are likely to attract buyers as the bullish macro trend has not changed. Bloomberg Intelligence senior strategist Mike McGlone is bullish on Bitcoin (BTC) as he believes that “something unexpected needs to happen for Bitcoin's price to stop doing what it's been doing for most of the past decade: appreciating.” However, with the S&P 500 hitting a new all-time high today, traders are booking profits in gold and crypto assets. As

A Critical 30% Bitcoin Breakout Is Weeks Away: Volatility Analysis

As repeated time and time again by analysts, Bitcoin is currently in no man’s land.